Utilities Saudi Arabia

Saudi Arabia signed agreements with nine international oil companies Sunday, a move that marks the first major foreign investment in its energy sector since nationalizing the industry in 1975. The deals, worth a total of $25 billion or more, involve the development of three natural gas fields in the kingdom and a number of related power plants, transmission pipelines and water desalinization projects.

Saudi Arabia signed agreements with nine international oil companies Sunday, a move that marks the first major foreign investment in its energy sector since nationalizing the industry in 1975. The deals, worth a total of $25 billion or more, involve the development of three natural gas fields in the kingdom and a number of related power plants, transmission pipelines and water desalinization projects.